Business Objectives
Different businesses have different objectives. Objectives are aims or targets to work towards. These objectives can be summarised as
- Maximise profit: Common for business owned by private individuals. It involves improving profit margins, improving the rate of return on investment
- Grow or expand: It involves increasing the operations of the business, expanding to other regions or countries, gaining the market share.
- Survival: especially relevant for new businesses
- Provide a service: especially for public sector businesses whose main objective is to provide services, create employment and welfare of the general public
- To increase added value: Many businesses want to add more value to their products.
